No. They are an evil monopoly. Well that's redundant- all BGGers know how evil Monopoly is.
I wish they would revert back to the original "free electronic money transfers between checking accounts".
Personally, I prefer the new-style PayPal. Old-style PayPal, at least in the UK, basically came down to:
- We're not a bank
- We have your money, you don't
- If we decide to give it to the person you sent it to, we will
- If we decide you've been naughty, based on inchorent ramblings of eBay lunatics, we'll keep it
- If we decide in six months time that you were naughty a while ago, we'll raid your bank account anyway
- See second point
- Nah nah nah!
New-style PayPal is a properly-accredited financial institution (at least in whatever European country is best tax haven to incorporate in this year), and has to play by the same rules as "real" banks. The downside being that they now have a selection of interesting fees, just like "real" banks.